All About Tax Issues And How A Tax Resolution Lawyer Can Help
Posted on: 18 April 2022
An Internal Revenue Service (IRS) notice can send shivers down your spine, fearing that you might face serious consequences. You may receive a notice because you made a mistake on your income tax returns, or the IRS may be considering auditing you or your business. Each of these issues has serious implications, and so it's good to be prepared for any eventuality. But the good news is that an experienced tax resolution lawyer can help you understand your situation and provide the best legal action to take to fix your problem. Your legal advisor will take the following measures to mitigate the consequences.
They Will Help You Identify and Deal With Tax Issues
The law prescribes very tough measures for anyone who commits tax fraud. Therefore, you may want to consult a lawyer when the IRS sends you a notice. They will evaluate your application to determine the error that might have led to your problem with the IRS. If you failed to file some taxes, the IRS might be considering securing your property to recover your tax arrears.
The IRS may also be considering taking legal action against you for failing to keep a previous tax payment agreement. Navigating these issues requires a deep understanding of the law because messing up with the tax regulations can worsen your situation. An experienced legal advisor can be crucial to your success when it comes to litigating tax issues.
They Will Propose the Best Tax Resolution Strategy
The thought of facing the harsh penalties for failing to comply with tax laws can make you forget that there are tax resolution strategies in place. A professional attorney can help you negotiate the best tax resolution depending on your situation. For example, if you have huge outstanding tax debts you cannot afford to pay, your attorney can negotiate to lower the amount with the IRS. In this agreement, you will get a chance of getting out of your tax burdens, while the government will collect at least a portion of the tax you owe them.
Your legal advisor can also help you get a favorable installment plan that will enable you to make payments. In this case, they will help you settle the most beneficial plan. For example, they might recommend a plan that you will pay more money over a short period. It will save a significant amount of cash because you will pay less interest when you make your payments over a longer period of time.
Dealing with the IRS can be one of the most chilling situations because you might not know the penalties the IRS may impose. An experienced lawyer dealing in tax resolution can help you handle the complex process, ensuring that you don't get a harsh punishment.
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